Alyssa Milano has been tapped to be the third host in as many seasons of Lifetime’s fashion-design competition series, per The Hollywood Reporter. She follows in the footsteps of previous emcees Angela Lindvall (Season 1) and Carolyn Murphy (Season 2).

The Mistresses star — who has her own sports-themed fashion line — joins returning Runway judges Isaac Mizrahi and Georgina Chapman. Season 3 begins production this month and is slated to bow in the fall.

Ready for more of today’s TV dish? Well…

• Fresh off of memorable (though polarizing) turns on both Arrested Development and The Office, Chris Diamantopoulos has landed a major arc in Episodes‘ upcoming third season. Per The Hollywood Reporter, the actor joins the Showtime comedy as Castor Soto, the new head honcho of the network that airs the series’ show-within-a-show, Pucks.

• A few more major players have joined Will Ferrell’s upcoming IFC six-part series The Spoils Of Babylon. Jessica Alba, Val Kilmer, Michael Sheen and Tim Robbins have boarded the project, which is based on the fictional best-selling novel by author Eric Jonrosh (Ferrell) and chronicles the lives of the wealthy Morehouse family. Previously cast actors include Tobey Maguire, Kristen Wiig and Haley Joel Osment.

• The Wire‘s Dominic West has landed the lead in Showtime’s drama pilot The Affair. From In Treatment‘s Sarah Treem and Hagai Levi, the prospective series explores two marriages and the infidelity that disrupts them. West plays a good husband and devoted father whose world implodes when he meets a woman he believes to be his soulmate.

• Oxygen has ordered a third season of Best Ink, to premiere in late 2013.

Seriously, how many “All Stars” have been on “Project Runway”…there have only been ten seasons! I barely even recognized half of the cast in season two. Having a second spin-off series with watered-down judges and competition is really hurting the franchise.